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Tag Archives | TCF

Surveys

Benchmark of customer satisfaction shows TCF is key

What is the SA-csi? The South African Customer Satisfaction Index (SA-csi) is an independent national benchmark of customer satisfaction of the quality of products and services available to household consumers in South Africa. The SA-csi for Short-Term Insurance is the most comprehensive survey of customer satisfaction, and is a causal model that links customer expectations, […]

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client_centric

And the winner is…

In the midst of the world cup soccer hype, Neymar memes and speculation on which team will be crowned as the winners of World Cup 2018, the role of soccer coaches sometimes fades into the background as star players are praised for the results. Soccer coaches are, however, key in creating the right platform for […]

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loud-hailer

Do what I say

Complaints handling is set to become a major measure of your commitment to the fair treatment of clients, or TCF as it has become known. The final proposals for implementation of changes to the General Code of Conduct reiterate this. There is now an official definition of what a complaint is: “complaint” means an expression […]

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proposals

New ombud system proposed

The ceremony at which Jack Nicholson received his Oscar for “As good as it gets” was the same one where “Titanic” dominated all the categories. Nicolson, with that wicked smile of his, opened his acceptance speech by saying: “All night long I had that sinking feeling.” When I downloaded the introductory document on the proposed […]

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fees

Causal event charges and TCF

If the Pension Fund Adjudicator had her way, causal event charges would be levied very differently, if at all. In a case reported on in FANews on 3 August 2017, the product provider, in response to a complaint, submitted that it subscribed to the principles of Treating Customers Fairly (TCF) and that the complainant was appropriately informed […]

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debarment1

Debarment and TCF

The necessity for a process to ensure that those who fall foul of the fit and proper requirements are not allowed to practice was never in question. In particular, the bad apples need to be discarded. Unfortunately, the application and execution of the debarment process should possibly be regarded as one of the failures of […]

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TCF

Lack of TCF seen as Aggravating Factor

The latest settlement agreement, between the Registrar and New National Assurance Company Limited, contains an interesting new slant to what we have become used to. The Registrar was of the opinion that the respondent contravened Rule 7.4(a) of the Short-term Policyholder Protection Rules in that the respondent “…failed to accept within a reasonable period, a […]

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TCF

Santam makes TCF decision

An Operational Circular titled “Settlement of claims on damaged or stolen vehicle tyres and shock absorbers/springs”, issued on 24 January 2017, provides a good example of Treating Customers Fairly in action. Commercial and Personal lines Motor policies cover loss of or damage to the insured vehicle. Without loss or damage the Company is not liable. Damage to […]

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Ombud

TCF in Dispute Resolution

An interesting case from the latest Short-term Ombud briefcase reflects that fairness and equity should be applied in settling a dispute. Background Ms. A suffered a burglary at her property, which was let to tenants at the time. The insurer accepted liability for the claim and authorized repairs. During the course of the repairs, a […]

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TCF

Treating Advisers Fairly

The introduction of the FAIS Act and supporting regulations contributed to making the provision of financial advice a more daunting and costly service than ever before. Prior to 30 September 2004, we saw a gradual decline in support from product providers for all but the top producers. The quality of advice, in some instances, was […]

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